Sompo Asset Management Co. Ltd. Buys 1,400 Shares of The Bank of New York Mellon Co. (NYSE:BK)

Sompo Asset Management Co. Ltd. increased its position in shares of The Bank of New York Mellon Co. (NYSE:BK) by 9.6% during the third quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 15,910 shares of the bank’s stock after buying an additional 1,400 shares during the quarter. Sompo Asset Management Co. Ltd.’s holdings in Bank of New York Mellon were worth $1,143,000 at the end of the most recent quarter.

Other large investors also recently modified their holdings of the company. McClarren Financial Advisors Inc. increased its holdings in Bank of New York Mellon by 586.4% during the 3rd quarter. McClarren Financial Advisors Inc. now owns 405 shares of the bank’s stock worth $29,000 after purchasing an additional 346 shares in the last quarter. Olistico Wealth LLC purchased a new position in shares of Bank of New York Mellon during the second quarter valued at approximately $30,000. Clearstead Trust LLC bought a new stake in Bank of New York Mellon during the second quarter worth $32,000. Fortitude Family Office LLC raised its holdings in shares of Bank of New York Mellon by 130.6% in the third quarter. Fortitude Family Office LLC now owns 611 shares of the bank’s stock valued at $44,000 after purchasing an additional 346 shares during the last quarter. Finally, Ashton Thomas Securities LLC purchased a new stake in Bank of New York Mellon in the 3rd quarter valued at about $46,000. 85.31% of the stock is currently owned by institutional investors.

Bank of New York Mellon Stock Performance

Bank of New York Mellon stock opened at $80.14 on Friday. The Bank of New York Mellon Co. has a fifty-two week low of $46.81 and a fifty-two week high of $80.29. The firm’s fifty day moving average price is $75.03 and its 200-day moving average price is $66.71. The stock has a market cap of $58.27 billion, a P/E ratio of 17.42, a price-to-earnings-growth ratio of 0.90 and a beta of 1.07. The company has a debt-to-equity ratio of 0.89, a quick ratio of 0.70 and a current ratio of 0.70.

Bank of New York Mellon (NYSE:BK) last issued its earnings results on Friday, October 11th. The bank reported $1.52 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.41 by $0.11. The business had revenue of $4.65 billion during the quarter, compared to analyst estimates of $4.52 billion. Bank of New York Mellon had a return on equity of 12.06% and a net margin of 9.44%. On average, equities research analysts expect that The Bank of New York Mellon Co. will post 5.82 earnings per share for the current fiscal year.

Bank of New York Mellon Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, November 1st. Stockholders of record on Monday, October 21st were paid a $0.47 dividend. This represents a $1.88 dividend on an annualized basis and a dividend yield of 2.35%. The ex-dividend date of this dividend was Monday, October 21st. Bank of New York Mellon’s dividend payout ratio (DPR) is presently 40.87%.

Analyst Ratings Changes

A number of research firms have recently commented on BK. StockNews.com upgraded Bank of New York Mellon from a “hold” rating to a “buy” rating in a research note on Tuesday, November 19th. JPMorgan Chase & Co. increased their price objective on Bank of New York Mellon from $69.00 to $77.00 and gave the company an “overweight” rating in a report on Monday, October 7th. Wells Fargo & Company boosted their target price on Bank of New York Mellon from $79.00 to $81.00 and gave the company an “equal weight” rating in a research note on Friday, November 15th. Deutsche Bank Aktiengesellschaft upped their price target on shares of Bank of New York Mellon from $82.00 to $85.00 and gave the company a “buy” rating in a research note on Monday, November 11th. Finally, Citigroup raised their target price on Bank of New York Mellon from $65.00 to $70.00 and gave the stock a “neutral” rating in a research note on Thursday, September 19th. Five investment analysts have rated the stock with a hold rating and nine have assigned a buy rating to the stock. Based on data from MarketBeat, Bank of New York Mellon presently has an average rating of “Moderate Buy” and a consensus price target of $77.23.

Insider Activity at Bank of New York Mellon

In other Bank of New York Mellon news, EVP J Kevin Mccarthy sold 25,000 shares of the business’s stock in a transaction dated Tuesday, October 15th. The shares were sold at an average price of $76.31, for a total value of $1,907,750.00. Following the transaction, the executive vice president now owns 75,404 shares in the company, valued at approximately $5,754,079.24. The trade was a 24.90 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, VP Hanneke Smits sold 16,475 shares of the company’s stock in a transaction that occurred on Tuesday, October 15th. The shares were sold at an average price of $76.47, for a total value of $1,259,843.25. Following the transaction, the vice president now directly owns 157,455 shares of the company’s stock, valued at $12,040,583.85. The trade was a 9.47 % decrease in their position. The disclosure for this sale can be found here. 0.14% of the stock is currently owned by company insiders.

About Bank of New York Mellon

The Bank of New York Mellon Corporation provides a range of financial products and services in the United States and internationally. The company operates through Securities Services, Market and Wealth Services, Investment and Wealth Management, and other segments. The Securities Services segment offers custody, trust and depositary, accounting, exchange-traded funds, middle-office solutions, transfer agency, services for private equity and real estate funds, foreign exchange, securities lending, liquidity/lending services, and data analytics.